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RDE, INC. (OTCQB – RSTN - $3.86)
6 Mo. Price Target: $7.50
RDE, Inc. (Restaurant, Dining and Entertainment) is a pioneer in the restaurant deal space and the nation's largest restaurant-focused digital deals brand. Founded in 1999, Restaurant.com, Specials by Restaurant.com and the Corporate Incentives division connect digital consumers, businesses and communities offering thousands of dining, retail, and entertainment deal options nationwide at over 184,000 restaurants and retailers. Restaurant.com prides itself on offering the Best Deal, Every Meal. Restaurant certificates and gift cards allow customers to save at restaurants across the country with just a few clicks.
Conclusion: Since our initiation of coverage last month, RSTN peaked at $4.48, a 124% jump, before settling at current prices. Key trends and milestones are primed to drive RSTN’s shares toward our 6-month price target of $7.50, which represents 7x 2021 revenue, in line with its peer group.
The Most Important Trends Are in RSTN’s Favor. COVID-19 figures are on the decline, vaccine distribution is on the rise, and consumers are itching to return to social normalcy. We maintain that no other firm stands to benefit more from a return to normalcy in 2021 and beyond than RSTN. Moreover, RSTN could serve as a leading indicator in the consumer economic recovery.
What’s New. The Company just signed a partnership agreement with Chicago’s popular chain of Rosebud and Carmine restaurants for daily deal services. We believe this is one of many new deals in the offing.
What’s Ahead. Today at 1:30 PM EST, RSTN management will be presenting via webcast at the Virtual Investor Conference. It is a great opportunity for investors to get updated on the latest news with the Company. https://bit.ly/2KtV6MY
Upcoming Financials. RSTN will soon release FY20 financials for the ten months RDE owned the Restaurant.com unit, and which were effective as of March 1, 2020.
RECENT TRADING HISTORY FOR RSTN
Senior Analyst: Robert Goldman
Rob Goldman founded Goldman Small Cap Research in 2009 and has over 25 years of investment and company research experience as a senior research analyst and as a portfolio and mutual fund manager. During his tenure as a sell side analyst, Rob was a senior member of Piper Jaffray's Technology and Communications teams. Prior to joining Piper, Rob led Josephthal & Co.'s Washington-based Emerging Growth Research Group. In addition to his sell-side experience Rob served as Chief Investment Officer of a boutique investment management firm and Blue and White Investment Management, where he managed Small Cap Growth portfolios and The Blue and White Fund.
I, Robert Goldman, hereby certify that the view expressed in this research report or article, accurately reflect my personal views about the subject securities and issuers. I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the recommendations or views expressed in this research report.
This Opportunity Research report was prepared for informational purposes only.
Goldman Small Cap Research, (a division of Two Triangle Consulting Group, LLC) produces research via two formats: Goldman Select Research and Goldman Opportunity Research. The Select format reflects the Firm’s internally generated stock ideas along with economic and stock market outlooks. Opportunity Research reports, updates and Microcap Hot Topics articles reflect sponsored (paid) research but can also include non-sponsored micro-cap research ideas that typically carry greater risks than those stocks covered in the Select Research category. It is important to note that while we may track performance separately, we utilize many of the same coverage criteria in determining coverage of all stocks in both research formats. Research reports on profiled stocks in the Opportunity Research format typically have a higher risk profile and may offer greater upside. Goldman Small Cap Research was compensated by the Company in the amount of $4000 for a research report production and distribution, including a press release. All information contained in this report was provided by the Company via filings, press releases or its website, or through our own due diligence. Our analysts are responsible only to the public, and are paid in advance to eliminate pecuniary interests, retain editorial control, and ensure independence. Analysts are compensated on a per report basis and not on the basis of his/her recommendations.
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